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Just as you thought things couldn't get any worse, credit markets are about to be hit by a veritable tsunami of maturing corporate debt. Standard & Poor's estimates that companies in Europe, the US and the major Asian economies require a combination of refinancing and new money to fund growth over the next four years of between $43 trillion and $46 trillion. The wall of maturing debt is unprecedented, raising the prospect of further, extreme difficulties in credit markets.
With the eurozone debt crisis still at full throttle, the Chinese economy slowing fast and a still tepid US recovery, it's not clear that the banking system is in any position to deal with this incoming wave of demand.
Read the full article here.
Read several authors' thoughts on papal Rome's history.
This article highlights quotes from historical and Catholic sources proving the Papacy's aggressive nature.
An Italian mystic. A minister to a British king. An Augustine monk. A Swiss farmer's boy. What do these men have in common? They were used by God in powerful ways to bring about the Protestant Reformation. Enter into the lives of these ordinary people with extraordinary stories.
Inspiration for these articles comes from Gideon and Hilda Hagstoz' Heroes of the Reformation